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IMF seals $2.9bn financing package with Ethiopia: Here’s why this is a big game changer for the country’s economy

PUBLISHED: Fri, 13 Dec 2019 10:39:22 GMT

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International Monetary Fund and Ethiopian government have reached an opening agreement for a three-year, $2.9 billion financing package to support the African country’s economic reform program. The program would focus on addressing foreign exchange shortage and transitioning to a more flexible exchange rate regime, while working to strengthen oversight and management of state-owned enterprises to contain debt vulnerabilities. Zemedeneh Negatu, Global Chairman at Fairfax Africa Fund (US) joins CNBC Africa for more.


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